Positive Impact of Budget 2014 on Real Estate

The Union Budget 2014-15 was presented in parliament under economic circumstances requiring tax revenues to keep pace with targets. Mr. Arun Jaitley has given a fresh lease of life to the cash-strapped real estate sector and announced that Real Estate Investment Trusts (REITs) would soon be allowed.

                              

REITs, which are a fairly successful concept internationally, would get a tax pass-through status. Infrastructure Investment Trusts would get tax benefits as well.

Below are 5 key points from this Budget that’ll shape the industry in the years to come –

1): Introduction of Real estate Investment Trusts (REITs)

Ø  REITS Define as an investment instrument in the Indian Market and the finance minister has promised tax pass-through status for the same. REITs can be traded like shares in a share market. 

How will this Impact the real estate Sector?

The Tax through status for REITs will attract more investments into this sector especially since it removes double taxation. This would allow investors to plan their taxes in better way. For example, capital gains on REITs can be written off against capital losses incurred elsewhere. Builders can use REITs to fund and operate commercial offices and this move would enable small investors to invest in commercial real estate, in smaller chunks.

2): FDI in Real estate

What has been accomplished?

Previously, FDI was permitted only in real estate projects which had a lowest proposed developed area of 50,000 sq. mts. and a capitalization of $10 million. This has now been reduced to 20,000 sq. mts. and $million.

How will this Impact the real estate Sector?

This will increase liquidity and make raising capital for projects simpler for B and C category developers, builders, especially in Level 2 and 3 places. Because of this shift, we can anticipate more affordable houses in the market in Future. Developers or Builders who allocate a third of their projects to low cost homes are exempted from these rules.

3): Tax deductions on home loan repayment

What has been accomplished?

The tax relaxation available for home loan interest pay back has been increased to Rs.2 Lakhs from Rs. 1.5 Lakhs and the limit under 80c (which contains home loan principal repayment) has been increased to Rs.1.5 Lakhs from Rs. 1 Lakh.

How will this Impact the real estate Sector?

This helps consumers save more by investing in real estate. The move will enhance the residential real estate  market which has seen a downturn recently.

4):  Affordable housing

What has been accomplished?

Rs. 4000 Cr. has been allocated for affordable housing via the National Housing Board

How will this Impact the real estate Sector?

This is in line with the Governments vision of providing housing for everyone in the country by 2022. This move will help provide housing to lower middle class and economically weaker section of society.

5): Development of Smart Cities

Ø  The Government is aiming at providing global - standard cities and improving the overall infrastructure by constructing roads and other facilities. This will provide a more option for NRI’s to look beyond the cities and invest in locations nearer their home towns or quieter suburbs and satellite towns.

What has been accomplished?

Rs. 7060 Cr. Has been allocated towards development of smart cities.

How will this Impact the real estate Sector?

Development of 100 smart cities was part of the BJP’s manifesto. Urban Development minister Mr.Venkaiah Naidu had a meeting with ministers of various states about the same on 2^nd June, 2014. These will be planned cities across the country with GIS based town planning, integrated drainage systems and advanced transportation facilities. These new satellite cities would help the real estate sector in terms of employment through construction and betterment of infrastructure and providing affordable housing.

Author:

B.U.Bhandari Landmarks leading real estate developers in Pune and their upcoming construction projects in Pune are residential project - Unity Park in Kondwa and Alacrity in Baner, Commercial Project in Kharadi & Belleza  NA bungalow plots.

Residential Properties in Pune – Best Choice of Investment

The Pune is one of the extremely developed city of India. The city has grown over the last two decades due to its tactical geographical location and because of investments by national and international companies. The people in Pune are very much into the business of property purchase and sale. A large number of apartments are developed by the builders and we have many options to get an apartment to buy 1, 2 & 3 BHK Flats in Pune.

Pune is hub of IT Industry and also called as silicon city. With its fast development, the Real Estate Developers are providing their desire Project for the individuals of Pune who are in search of luxurious and affordable apartments, flats to purchase. The development in industrial sector also makes way for developing the residential property in Pune along with the commercial properties. Nowadays, people are also seeing property as a major investment option for their secure future therefore having a residential property or apartments on sale is the priority of many people in Pune.

Buying a residential or commercial property in Pune is not a simple activity at all. It requires lot of your time and research for having the well managed and cost-effective residential apartments which matches our specifications also. Deficiency of appropriate sources and information while looking for home also results in many issues like legalities etc. We have to deal on various aspects like area, price, design, decorations and other features. But in this era we have much choice as Alacrity with modern amenities which include garbage chute, rain water harvesting system, landscaped garden, a convenient, paved internal road, community hall with gym and a separate children's play area for the little ones to enjoy themselves. Apart from these user modern amenities, the safety system too is well in place at Alacrity. Some of the safety features at Alacrity are video and door phone for each flat, smoke detector and motion senor, DVR system for main gate, building entrance.

So overall, improvements and state-of-the-art amenities are quick becoming typical in Pune property. A Combined MD of one of the prestigious property growth organizations in Pune is of the point of view that the facilities and technology that a developer is providing nowadays are a level greater that a few years in the past. If previously, a play area with one glide and some rock would are eligible as a lawn, these days, a lawn has various accessories, along with a kids share and other factors.

An enhancement with regards to whole customer experience is clearly seen in properties in Pune. In the awaken of these quick improvements, developers in Pune like B.U. Bhandari have all the more confirmed with their Alacrity apartments in Baner as to why is it the most recommended and reliable in Pune.

Author:

B.U. Bhandari Landmarks, one of the Renowned Construction and Real Estate Developer in Pune offers state-of-the-art living as well as eco friendly residential and commercial real estate projects.

B.U.Bhandari Landmarks “Alacrity” - A New Luxury Apartments Project in Baner, PUNE

B.U.Bhandari Landmarks is a reputed real estate developer, being real estate it holds expertise in presenting spaciously crafted and beautifully designed residential living spaces & commercial properties. The much talked about latest residentialproject in Pune of this company is named as Alacrity which is a wonderful collection of 2and 3 BHK apartments in Baner. Every liveable space available under this project satisfies with the increasing lifestyle needs as all modern features are included along with primary features such like video door phone for each flat, LPG leakage detector, motion sensor and many more.

Alacrity by B.U. BhandariLandmarks has modern amenities due to which living there becomes luxurious experience. Some of the amenities here include garbage chute, rain water harvesting system, landscaped garden, a convenient, paved internal road, community hall with gym and a separate children's play area for the little ones to enjoy themselves.

However, the spaciousness of interiors along with added amenities is an advantage which makes home seekers to come up with necessary investment plans.

Alacrity is one of the best Residential projects in baner. It is near to Balewadi Sports Complex, Hinjewadi and Wakad .It is located on Mumbai Bangalore Highway and as a result the basic necessities are not far off. Great Amenities and convenient location is what make these Alacrity flats in Baner, an extremely attractive option for those looking for a plush apartmentin Pune.

For More Information Visit us Alacrity Luxury apartments in Pune